3/27/26 Recap
The SPY is breaking down from that bear flag to new lows. This remains a horribly broken chart, we need to see a reclaim of that 8 ema and we keep falling so fast it cannot catch up. This chart is telling you all you need to know about the war in that we are not in control of anything at this moment, if we we were, markets would be calm. This week alone Trump has moved his ultimatum deadline from 48 hours to 5 days to 1 month and back to 10 days yesterday. Markets seek nothing but clarity at all times and we currently have none. As I said before this ends when you see this 8 ema flatten out get reclaimed followed by a reclaim of the 21 ema. Until then we are in a freefall.
The bigger issue is this weekly chart where we are losing the 50 week right now. We haven’t done that in nearly a year and barring a close over 646 today, we are doing it opening the door to that 100 week below. That 100 week is where Trump pivoted last year after 1 close below it and you have to believe he’s getting frustrated with how this is all going right now. I just don’t know how he pivots without guaranteeing Hormuz is open. The Nasdaq just crossed a 10% move down with the SPY being a tad better. We now have to wait and see what comes on April 6, Trump’s new deadline.
We have some really serious things happening under the hood right now like MSFT is going to have its first close under the 200 week in over a decade. It didn’t do it during covid, the 2022 recession or last years tariff tantrum. This is major technical damage and sending major warning signals.
Top Gainer’s From Yesterday’s Recap
My Open Book
